Skip to main content

Forecast: big leap forward for lithium-ion battery recyclers

In today’s world, battery-driven products, big and small, seem hard to do without. Recyclers have seen the volume of used batteries go up notably in recent years. The global lithium-ion battery recycling market was worth around EUR 1.4 billion (US$ 1.5 billion) in 2019.

New market data suggests it will reach an estimated 11.5 billion (US$ 12.2 billion) in 2025 and exceed 16.8 EUR billion (US$ 18 billion) by 2030. This represents a compound annual growth rate of 8.2% from 2025 to 2030.

‘The rising concerns about depleting earth metals and government initiatives to recycle batteries are drivers for the global battery recycling market,’ according to Research & Markets. Based on end-use, the automotive segment accounted for the largest share of the lithium-ion battery recycling market last year. In terms of battery chemistry, the lithium-nickel manganese cobalt (Li-NMC) segment accounted for the largest share.

The North America region is projected to lead the lithium-ion battery recycling market in the next couple of years – both in terms of both, value and volume. Europe was the second-largest lithium-ion battery recycling market in 2019. Meanwhile, Japan led the automotive lithium-ion battery industry in the Asia Pacific region.

Analysts argue that major US electric vehicle manufacturers such as Tesla, General Motors Company, and Ford Motor Company ensures a ‘continuous supply’ of electric vehicles and their end-of-life batteries, thereby ‘propelling’ the North American recycling market. Additionally, the presence of more than 1500 data centers in North America is expected to drive the lithium-ion battery recycling market in the future.

Would you like to share any interesting developments or article ideas with us? Don't hesitate to contact us.

You might find this interesting too

Rare earth dependency presents real opportunities for recyclers
Cybercriminals hack away at coronavirus e-waste

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe now and get a full year for just €136 (normal rate is €170) Subscribe